In this review, I will look at 7 of the best passive income ideas for 2021.
Passive income relates to income that continues to be paid well after the work is done.
It is income that pays you even whilst asleep… cliche but true!
However it is not as simple or as easy as it sounds.
Active work is required to build passive income.
The miracle is that once established you will receive regular income ad infinitum.
Below are some of the best passive income ideas.
Some will require money whilst others will involve investment in time.
#1: Affiliate Marketing
Affiliate marketing is my #1 strategy for building passive income.
Essentially you receive a commission for promoting a product or service when a sale is made through your unique affiliate link.
You do not need inventory, expensive infrastructure, customer services, shipping or customer returns facility.
It is therefore easy to start though time is required to generate significant passive income.
To find affiliate programs, type your niche plus ‘affiliate programs’ into Google search. You will find affiliate programs to choose from.
Unlike affiliate programs like Amazon that pay you each time a sale is made through your link…
… the best programs to build passive income are those that pay recurring monthly commissions.
These are the true passive income generators.
They are usually software products with a monthly subscription pricing model.
You receive a monthly commission as long as the subscription is active.
My favourite affiliate program is ClickFunnels.
I won the Dream Car Contest this year.
You can earn up to 40% monthly commission for promoting the software and numerous other products.
That means that you receive $38.80 monthly for each person that signs up to the starter $97/month ClickFunnels plan.
This rises to $118.80/mo commission for each person on the Platinum $297/mo plan.
#2: Stocks and Shares
There is a false notion that you have to be super rich to invest in stock and shares.
This is untrue.
You can build a long term porfolio by starting early, investing small amounts regularly and re-investing your dividends.
By starting early and re-investing dividends, your portfolio grows through the power of compound interest.
You can start as small as $50 monthly, using a tax efficient wrapper like a 401K plan in the USA, the TFSA in Canada and ISA in the UK.
My personal finance book, The Smart & Common Sense Investor, shows the principles behind growing a long term portfolio of stocks and shares for both the novice and experienced investor.
#3: Real Estate
Investment in real estate requires capital.
As you start making money from other sources, consider real estate as a way to build a passive income stream.
Many people choose between stocks and real estate but many invest in both assets.
Several countries offer special loans to help first time buyers purchase a house.
#4: Digital Courses
Do you have a passion, special talent, passion or ability?
You can impart your knowledge to help others.
A great way to do this is through online digital courses.
Almost every successful guru has an online course.
A popular digital course will generate passive income indefinitely.
Some great digital courses I promote include Spencer Mecham’s Affiliate Secrets 3.0 and
YouTube is a great search engine.
It requires time to build a portfolio of videos and get them to rank on YouTube.
These are pieces of real estate that will keep paying you passive income into the future.
You can monetize your channel through payment from YouTube and also by having affiliate links on your videos.
#6: Email Automation
Your business should be set up to capture email addresses.
You should then set up an email automation running up to a year or longer on your email autoresponder like Active Campaign.
The email sequence will contain some affiliate links.
As your leads go through your automation, passive income is generated as they make purchases through your affiliate links.
Adwords is the biggest search engine.
Search traffic is more likely to make purchases compared to Facebook ads for example where you have to distract the traffic.
Many companies will allow you to run ads on Adwords with your affiliate links direct to their website.
If they pay recurring commissions you are able to grow passive income through your ads.
Online Business Training
If you are looking to build an online business and use Email Marketing, YouTube or Adwords to build passive income …
….I would recommend you get an online training that gives you the skills to succeed.
The One Funnel Away Challenge is a 30 day intensive training to help you set up your online business.
Passive income requires effort, time and money to set up.
The beauty however is that you continue to get paid way beyond the intial work.
There are so many passive income streams but the above seven cover some of the most common.
Affiliate Disclaimer: I hope you got value from this 7 Of The Best Passive Income Ideas For 2019 review. Please take note that some of the links inside this article may be affiliate links. That means that if you buy through one of our links, we may get an affiliate commission for it. If you do click on one of our links, we really appreciate it! Any money we make keeps this site running smoothly and allows us to keep producing these high-quality reviews.